The US Department of Labor is reporting that seasonally adjusted an additional 219,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, October 1, 2022. This is an increase of 29,000 from the previous week’s revised-lower level of 190,000 (originally reported as 193,000). The 4-week moving average was 206,500—an increase of 250 from the previous week’s revised-lower average of 206,250 (originally reported as 207,000).
The advance number for seasonally adjusted insured unemployment (known as continuing claims) during the week ending September 24, 2022, was 1,361,000; this is an increase of 15,000 from the previous week’s revised-lower level of 1,346,000 (originally reported as 1,347,000). The 4-week moving average was 1,370,750—a decrease of 10,250 from the previous week’s revised-lower average of 1,381,000 (originally reported as 1,381,250).
The advance seasonally adjusted insured unemployment rate was 1.0% for the week ending September 24, 2022, an increase of 0.1% from the previous week’s revised rate. The previous week was revised down to 0.9% from the originally reported as 1.0%.
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